The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1887-12-08

least the experiment should be faithfully
tried until it Is demonstrated to be failure.
The government never has paid premium
in gold for its bonds for any purpose but the
sinking fund, and ii has done that but three
times-in 1880, when 1t paid a premium in
gold Of 81, ,79J. .320.42; In 1881, a premium Of
Sl.061 ,24S.7S, and again in the present fiscal
year, when 1t has paid premium Of S2,S52,-
O15.88.
With these exceptions, the government
has always been In position where IL could
purchase or call its bonds at par or less, and
has consequently been enabled to apply al
most the whole OF the vast surplus revenue
Of the past twenty-five years to the retire
ment Of its interest-bearing debt upon fairly
good terms; 1t Is not probable that 1t can do
this as to any considerable portion Of the
remaining debt.
The sinking fund requirements Of the last
fiscal year were 1905, ,24S.i5. which
deducted from the surplus revenue, viz,
sos, An ,O9760, left .S55, ,567, ,S49.54 uncalled
for by any law; this money, together with
further sum from accumuiations Of former
years, was devoted TO the retirement Of the
3 per cent. bonds, 80 that, In all, $40, ,S64, 100
Of 3 per cent: bonds were retired during that
year In addition TO those carried to the sink
ing fund, making grand total Of S127, ,6l2,-
$50 3 per cents. retired in 1887
All Of the 3 per cent. bonds have been can
celled. The sinking fund requirements OF
the fiscal year ending June 30, 1888, have
under existing laws, to put out again among
the people the surplus money which comes
into the Treasury, except IL be that clause
In an appropriation act Of 1881 authorizes
the Secretary Of the Treasury to purchase
such amounts as he may think best; power
which unnecessarily ought not TO be given
10, and a responsibility which ought not TO
be put upon, any officer Of government.
l do not mention deposits ia national bank
repositories as means OF keeping the cir
culating media available for business pur-
poses, for that resource at best Is very linz
tied under present laws, and ought not TO be
used except in exceptional circumstances,
such as have existed Of late and because
there Is no better thing TO do.
There is in the Treasury Of available
funds at this date, December 1, 1887, after
every possible obligation has been provided
for, the sum Of S55, ,258, 701.19, which every
day grows larger. A careful estimate shows
that this sum will be increased to Sl40.00O,-
900 at the end Of this fiscal year under the
operation OF the present tax and appropria-
tion laws.
Unselfish craftsmanship must now be in
voked to save tine people from the dangers
which the new conditions threaten.
Unnecessary Expenditure.
cannot believe that 1t win adopt the sec
ond expedient, viz, the enlargement Of gov
ernment expenses simply TO expend money
raised by taxation, when the public veal
does not otherwise call for the expenditure.
Every dollar taken by taxation from the man
who has it employed In business which the
natural wants OF the community called for,
and carried into the Treasury, even II at
once paid out again to satisfy obligations
created by law In excess OF the healthy needs
of government, Is dollar used TO misemploy
labor and to impoverish the people, and as a
sure consequence to impose in the end the
burden Of the excessive taxation upon the
labor Of the country.
We can easily comprehend the case If we
consider a community OF say one hundred
men. If ten Of the number Of this communi-
ty are employed in the construction Of forth
hcati0ns or of public buildings, II Is evident
that the other ninety must expend a portion
Of the fruits of their labor In the support Of
the ten; to do this they must either work
more hours and days in the year than they
otherwise would do, or they must deprive
themselves Of certain comforts and savings.
The same relations Of labor in general TO
labor employed by government obtain In our
great community Of sixty millions Of people,
although numbers and the complex nature OF
society make 1t less easy TO connect financial
and labor troubles with the causes thereof
have used as Illustrations Notifications
and public buildings, not because the gov
ernment should not build Notifications to
such extent as will give the country ample
protection against invasion and enable II at
II should not build public buildings Of such
size and numbers as are needed for the con-
yenient and fitting transaction OF public
business, but TO shoW that even the most
meIltorlous expenditures OF government are
seldom anything but an unprOductlve burden
upon the whole body Of labor, and that con-
sequently taxation beyond the absolute
needs Of government Is an injury to the peo-
pie OF the country, no matter Tor what pur-
poses the proceeds Of taxation are expended.
Rofh aiftE Efunr md
purposes, and governmental expenditure In
excess Of the needs OF government should be
rejected
Reduction Of Revenue.
Reduction Of the revenue from taxation Is
the only tit remedy for the evils which
threaten the country. This may be accom-
plished in various ways.
Increased Duties
One which has been proposed is to compel
a decrease of importation, and consequently
a decrease Of revenue from customs. BY
largely increasing the rates Of duties. This
plan could be made to reduce the customs
revenue, but it would increase the peoples
taxation far more than 1t would decrease the
revenues, and should not be adopted
Internal-Revenue Taration.
Another way is to reduce or abolish inter
nal-reyenue taxation. In favor Of this Is the
fact that in a small part Of the Southern
States the internal tax on liquors and tObac-
co Is thought TO be oppressive. and Is odious
to the people, Of those regions; and the
further fact that by its reduction the ex-
penses Of its collection might be somewhat
reduced: BY its total abolition they might
be done away with altogether. These ex-
penses, as shown by the complete and inter-
tsting report Of the Commissioner Of In
ternal Revenue, which is commended to
your careful attention, amounted during the
last fiscal year to S4,065, 1887, being three
and fOrty-hundredths per centum OF the
amount collected. The cost Of the collection
Of the revenue from customs for the same
year was s6,S30. .296.16, being three and
collected.
The chief cause for the prejudice against
this tax seems to be that as there was no
such tax before the war for the Union, ii Is
looked upon as a remainder OF the measures
adopted to raise money TO carry on the war,
and which ought not to be continued In time
of peace, aud as interfering In some way
with the natural rights OF mankind to grow
grain and tobacco and manufacture there
from spirits. cigars, snuif. and the various
forms Of merchantable tobacco. of course
taxation Of whiskey and tobacco trespasses
no more upon the natural rights of man than
does the taxation Of his clothing, OF his bed
ding. of every implement which he uses In
the cultivation Of his grain and tobacco, and
in the distillatiOn or manufacture OF the
known, fixed; the whole Of II goes into the
governments treasury; the burden of the
other Is indirect and unknown, and only
portion Of it comes into the Treasury IL
reaches the farmer or distiller increased by
the profit upon itself, which every merchant
must take as the clothing or tools pass
through his hands on their journey to them
from the foreign or domestic manufacturer,
Taxation there must be- The choice is be-
tween kinds of taxation; each man can de-
eide for himself, II he will examine the sub
ject free from prejudice, which Is the least
burdensome for him, for his family, and for
his neighb0rs, and which Is In the end better
for his whole country. That internal taxa
ton Of spirits and tobacco began during the
war Is not a reason why it should be done
q way with now, If IL be In itself wise. So
the fact that the rates Of customs taxation
were raised during the same war far higher
than ever before in our history and have
been continued until now, ought not to de-
termine the manner Of their treatment; this
should rather depend upon what Is Just and
expedient at the present time. Neither pas
stOn, prejudice, nor sentimentality should
have place In the consideration of question
Of taxation.
As to the expense OF collecting the inter-
nal revenue, suggest that an amalgamation
Of the customs and internal revenue systems
is entirely feasible, and that thereby large
number Of offices might be abolished, and
that the expense Of the whole system might
be made not to exceed that Of an efficient en-
fOrcement Of the customs laws. | earnestly
commend this suggestion TO the careful con-
slderation Of the Congress. Is II the part Of
StatnamauQhin fo Uivp mn a rovatt,a a. a.sf fI.